SilverBow Resources (SBOW) Stock Rating Upgraded by Seaport Global Securities

Seaport Global Securities upgraded shares of SilverBow Resources (NYSE:SBOW) from a neutral rating to a buy rating in a report issued on Tuesday, December 19th, MarketBeat Ratings reports. Seaport Global Securities currently has $25.00 price target on the stock. Seaport Global Securities also issued estimates for SilverBow Resources’ Q4 2017 earnings at $1.35 EPS, FY2017 earnings at $5.50 EPS, Q1 2018 earnings at $2.26 EPS, Q2 2018 earnings at $1.47 EPS, Q3 2018 earnings at $1.34 EPS, Q4 2018 earnings at $1.57 EPS and FY2018 earnings at $6.64 EPS.

A number of other brokerages also recently commented on SBOW. BidaskClub raised SilverBow Resources from a strong sell rating to a sell rating in a research report on Friday, September 15th. Stephens initiated coverage on SilverBow Resources in a report on Friday, September 29th. They set an overweight rating and a $28.00 price objective for the company. Zacks Investment Research raised SilverBow Resources from a sell rating to a hold rating in a report on Friday, November 10th. Finally, Northland Securities initiated coverage on SilverBow Resources in a report on Thursday, September 28th. They set an outperform rating and a $42.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $32.50.

Shares of SilverBow Resources (SBOW) traded up $0.35 on Tuesday, hitting $32.82. The company had a trading volume of 65,697 shares, compared to its average volume of 68,944. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.55. SilverBow Resources has a one year low of $19.89 and a one year high of $33.80.

In related news, CEO Sean C. Woolverton purchased 1,119 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was purchased at an average cost of $22.86 per share, with a total value of $25,580.34. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sean C. Woolverton purchased 1,102 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was bought at an average cost of $23.54 per share, with a total value of $25,941.08. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 5,450 shares of company stock valued at $127,712.

Several institutional investors have recently bought and sold shares of the company. Nationwide Fund Advisors bought a new position in shares of SilverBow Resources in the second quarter worth $104,000. SG Americas Securities LLC bought a new position in shares of SilverBow Resources in the second quarter worth $148,000. The Manufacturers Life Insurance Company bought a new position in shares of SilverBow Resources in the second quarter worth $157,000. Wells Fargo & Company MN boosted its holdings in shares of SilverBow Resources by 2.3% in the third quarter. Wells Fargo & Company MN now owns 292,404 shares of the company’s stock worth $7,178,000 after acquiring an additional 6,628 shares during the period. Finally, New York State Common Retirement Fund bought a new position in shares of SilverBow Resources in the second quarter worth $196,000. 30.06% of the stock is owned by hedge funds and other institutional investors.

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